Family

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Note

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

Legislation -
Concurrence Vote Passed
(Senate)
(-) -
March 26, 2009

Vote Result

Yea Votes

Nay Votes

Vote to concur with Senate amendments and adopt additional amendments to a bill that prohibits increases in the assessed value of real property from January 1, 2009 through January 3, 2011.

Highlights:

- Specifies that the assessed value of real property may be decreased during this period (Sec. 1).
- Requires property that is sold or transferred to be valued at the most recent assessed value (Sec. 1).
- Requires additions or improvements to real property to be assessed at the fair market value and added to the assessed value of the property (Sec. 1).
- Specifies that if property has been rezoned, subdivided, or combined with other property at the request of the owner and the use of the property has changed, the property shall be assessed at the fair market value (Sec. 1).
- Specifies that the provisions of this Act do not apply to property within counties that have a constitutional amendment that imposes millage rate limitations regarding ad valorem property taxes (Sec. 1).
- Authorizes county tax officials to reassess property if the original assessment is found to contain factual errors or omissions (Sec. 1).
- This is a substitute bill sponsored by the Senate Committee on Finance.

Legislation -
Bill Passed
With Amendment
(Senate)
(-) -
Feb. 17, 2009

Legislation -
Bill Passed
(House)
(110-63) -
Feb. 12, 2009(Key vote)

Vote Result

Yea Votes

Nay Votes

Vote Smart's Synopsis:

Vote to pass a bill that prohibits increases in the assessed value of real property from January 1, 2009 through January 3, 2011.

Highlights:

-Specifies that the assessed value of real property may be decreased during this period (Sec. 1).
-Requires property that is sold or transferred to be valued at the most recent assessed value (Sec. 1).
-Requires substantial additions or improvements to real property to be assessed at the fair market value and added to the assessed value of the property (Sec. 1).
-Specifies that if property has been rezoned at the request of the owner and the use of the property has changed, the property shall be assessed at the fair market value (Sec. 1).
-Specifies that the provisions of this Act do not apply to property within counties that have a constitutional amendment that imposes millage rate limitations regarding ad valorem property taxes (Sec. 1).
-This is a substitute bill sponsored by the House Committee on Rules.